Borrow Money Articles

7 Debt Repayment Strategies: How to Get Rid of Debt

7 Debt Repayment Strategies: How to Get Rid of Debt

Reducing debt requires commitment and planning. By prioritizing high-interest debt, developing a repayment plan, and avoiding new debt, you can take control of your financial future and work towards a debt-free life. Remember that progress may take time, but you can achieve debt freedom. Follow these steps to assess your debt situation. Step 1: List Your Debts Compile a list…
How to Establish Credit With No Credit History

How to Establish Credit With No Credit History

I wish I could tell you how credit is unnecessary. However, much of living in our society requires credit. Until that changes, you’ll need credit and this article will show you how to establish credit when you have no credit history. If you’re just starting your financial journey and have no credit history, building credit can seem challenging. However, establishing…
Important Credit Terms You Must Know

Important Credit Terms You Must Know

Understanding credit can be daunting because of all the jargon used. To help you on your wellness journey, you must know these key credit terms for better credit health. 1. Credit Score Your credit score is a numerical representation of your creditworthiness, typically 300 to 850. It’s based on information from your credit report and helps lenders assess the risk…
How to Manage Credit Responsibly

How to Manage Credit Responsibly

Managing credit responsibly is crucial for financial well-being and achieving long-term financial goals. According to the Federal Reserve, 44% of the U.S. population does not have $400 saved to cover an emergency. That means an unexpected $400 emergency “expense would be more challenging to handle” and not to mention stressful if “they either could not pay the expense or would…
5 Simple Rules to Loan Money to Family and Friends

5 Simple Rules to Loan Money to Family and Friends

Have you been asked to loan money to a family member or friend? I’m sure you have, and a question has been on your mind: Should you loan money to family and friends? Some time ago, a reader asked me how to respond to family members who constantly asked for loan money. She cared for their well-being, but it was…
How to Say “No” to Friends Who Ask to Borrow Money

How to Say “No” to Friends Who Ask to Borrow Money

In a recently updated article, I shared simple rules for loaning money to family and friends and maintaining healthy relationships. Today, I want to share a deeply personal story of how I borrowed and loaned money to family and friends. I’ve been a borrower and a lender with family and friends. Being on both sides shaped my current thinking and…
Credit Report Terms and Questions You Must Know

Credit Report Terms and Questions You Must Know

Credit reports and credit scores are among the most well-known but still mysterious aspects of personal finance. There are millions of articles and resources on the Internet that help people understand credit, yet many are still left confused. I can’t blame them because there often seems to be contradicting information from one website to another. In this article, you’ll learn…
28 Credit Score Myths Debunked and Explained

28 Credit Score Myths Debunked and Explained

There are many credit score myths on the internet and shared among family and friends. As these myths continue to pop up, I felt it warranted an article that quickly identifies and debunks them. Here is a simplified list of 28 persistent credit score myths: 1. Checking your credit reports lowers your score. Checking your own credit report, known as…
How to Increase Your Credit Score

How to Increase Your Credit Score

So, you want to increase your credit scores? Keep reading to learn how to improve your scores quickly and maintain them. Understanding Credit Scores Credit scores are numerical representations of your creditworthiness, indicating the likelihood of you repaying borrowed money. These scores are used by lenders, landlords, insurance companies, and others to assess your financial reliability. Scores typically range from…
How to Remove Collection Accounts on Your Credit Report

How to Remove Collection Accounts on Your Credit Report

Did you get a copy of your credit report and find a collection item? Are you questioning the validity of these collection items? If so, you’re not alone. Many people who review their credit reports find inaccurate information. Federal law requires credit bureaus to report only accurate information, but verifying and disputing the information you find is up to you.…